Thursday, December 6, 2012
Thomas A. Dubbs Named 2012 MVP of the Year by Law360
NEW YORK (December 6, 2012) — Labaton Sucharow LLP today announced that partner Thomas A. Dubbs has been recognized as an "MVP of the Year" by Law360 for distinction in class action litigation. The list names the attorneys who had the biggest wins and made the most significant contributions to their practice groups in the past year.
After reviewing close to 500 nominations, a team of Law360 editors chose a select group of lawyers to honor as MVPs for their accomplishments in litigation or transactions between October 2011 and October 2012.
"I am extremely honored to be the sole attorney among such a distinguished group who focuses on plaintiffs' representation," said Tom.
Tom joined Labaton Sucharow in 1991 after serving in-house at a major financial institution and is a recognized leader in securities-related litigation. He concentrates his practice on the counseling and representation of institutional investors globally. Tom has served as lead or co-lead counsel on behalf of large institutional investors in some of the most significant securities class actions in recent years, including those against American International Group, Goldman Sachs, the Bear Stearns Companies, Broadcom and WellCare.
This recognition is the latest in a noteworthy year for Tom. Representing lead plaintiff, three Ohio public employeepension plans, he obtained final approval of a $725 million settlement with American International Group ("AIG") and successfully argued a Second Circuit appeal in the same case in order to preserve a separate $72 million settlement (pending final approval) with General Reinsurance Corp. These accomplishments brought the total AIG settlements agreed to in this eight-year litigation to more than $1 billion. This case is one of the most challenging and complex securities class actions since the passage of the Private Securities Litigation Reform Act of 1995 ("PSLRA").
In 2012, Tom also was lead or co-lead counsel in other significant matters including: an almost $300 million settlement recovered against Bear Stearns on behalf of lead plaintiff the State of Michigan Retirement Systems; a $35.75 million settlement on behalf of New Jersey Department of Treasury against STEC, and, a precedent setting decision regarding auditor liability which led to a settlement with auditor, Ernst & Young, in the Broadcom case.
In the Judge's favorable ruling for plaintiffs in the Goldman Sachs litigation, not only did Tom survive a motion to dismiss, but the Judge stated that Goldman's arguments were "Orwellian" and "If Goldman's claim of 'honesty' and 'integrity' are simple puffery, the world of finance may be in more trouble than we recognize." Tom was also recently appointed co-lead counsel in the Wal-Mart derivative case on behalf of the California State Teachers' Retirement System and has moved for lead plaintiff on behalf of the North Carolina Department of the State Treasurer in the Facebook IPO case.
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To see more of Tom's achievements, please visit his bio page here.